11/26/2024 2:37:51 AM	BAD 102 Course Outline as of Fall 2023	Changed Course
CATALOG INFORMATION
Discipline and Nbr:  BAD 102	Title:  EA - BUSINESS TAX
Full Title:  Enrolled Agent - Business Taxation
Last Reviewed:1/23/2023

Units		Course Hours per Week			Nbr of Weeks	Course Hours Total
Maximum	3.00	Lecture Scheduled	3.00		17.5 max.	Lecture Scheduled	52.50
Minimum	3.00	Lab Scheduled	0		6 min.	Lab Scheduled	0
		Contact DHR	0			Contact DHR	0
		Contact Total	3.00			Contact Total	52.50
		Non-contact DHR	0			Non-contact DHR Total	0

Total Out of Class Hours:  105.00

Total Student Learning Hours: 157.50

Title 5 Category:  AA Degree Applicable
Grading:  Grade or P/NP
Repeatability:  00 - Two Repeats if Grade was D, F, NC, or NP
Also Listed As: 
Formerly: 

Catalog Description:

This is one of a series of courses designed to prepare students to take the Internal Revenue Service (IRS) Enrolled Agent Exam. This course covers tax issues that relate to businesses which include: business entity types, income, business expenses and other deductions, adjustments to cost basis, depreciation, depletion, amortization, credits and other losses and partnerships and corporations' formation, contributions, disposition, distributions, and retirement plans.

Prerequisites/Corequisites:

Recommended Preparation:
Eligibility for ENGL 100 or ESL 100 and Course Completion of BGN 81

Limits on Enrollment:

Schedule of Classes Information
Description:

This is one of a series of courses designed to prepare students to take the Internal Revenue Service (IRS) Enrolled Agent Exam. This course covers tax issues that relate to businesses which include: business entity types, income, business expenses and other deductions, adjustments to cost basis, depreciation, depletion, amortization, credits and other losses and partnerships and corporations' formation, contributions, disposition, distributions, and retirement plans.

(Grade or P/NP)
Prerequisites:
Recommended:Eligibility for ENGL 100 or ESL 100 and Course Completion of BGN 81
Limits on Enrollment:
Transfer Credit:
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP

ARTICULATION, MAJOR, and CERTIFICATION INFORMATION

Associate Degree:		Effective:		Inactive:
Area:
CSU GE:	Transfer Area			Effective:	Inactive:
IGETC:	Transfer Area			Effective:	Inactive:
CSU Transfer:		Effective:		Inactive:
UC Transfer:		Effective:		Inactive:
C-ID:

Certificate/Major Applicable: Certificate Applicable Course

COURSE CONTENT

Student Learning Outcomes:
At the conclusion of this course, the student should be able to:

1. Identify the preliminary work to prepare tax returns for businesses and partnerships.

2. Apply the Internal Revenue Service (IRS) code to determine income, business expenses, and other business deductions.

3. Demonstrate how to apply IRS tax code for other credits, losses, taxes, and cost-basis transactions for different entities.

 

Objectives:

At the conclusion of this course, the student should be able to:

1. Apply the process used to determine basic filing requirements for different business entities.

2. Compare and contrast the determination of income between different types of entities.

3. Explain the principles and procedures used to determine business expenses, deductions, credits, distributions, redemptions, liquidations, and other losses between various entities.

4. Correctly identify the cost basis for property related adjustments using the Uniform Capitalization Rules.

5. Examine and apply IRS tax code for retirement plans, decedent taxes, estate taxes, trusts, and exempt organizations.

Topics and Scope

I. Filing Requirements

     A. Preliminary work to prepare tax returns

     B. Filing status

     C. Filing requirements

     D. Business entities, accounting methods, accounting procedures.

II.  Income

     A. Gross income

     B. Self-employment income

     C. Farming income and expense

     D. Like-kind exchanges and involuntary conversions

III. Business Expenses

     A. Compensation

     B. Cost of goods sold

    C. Interest expense

    D. Rent expense

     E. Taxes

IV. Other Deductions

     A. Entertainment expense

    B. Travel and insurance expenses

    C. Bad debts

     D. Business gifts

     E. Business use of homes

     F. Statutory employees/nonemployees

     G. Other business expenses

V. Cost Basis and Depreciation

    A. Basis

    B. Adjustments to basis

    C. Uniform capitalization rules

     D. Depreciation method and recapture

     E. Amortization and depletion

VI. Credits, Losses, and Additional Taxes

     A. General business credit

     B. Net operating loss

    C. Casualty, hobby, and theft losses

    D. Additional taxes

VII. Partnerships

     A. Filing requirements

    B. Interest and contributions

    C. Taxable income

     D. Distribution of assets

    E. Sale and disposition of partnership

VIII. Corporations and Subchapter (S) Corporations

     A. Filing requirements

     B. Income and losses

    C. Deductions and distributions

    D. Liquidations and redemptions

IX. Decedent, Estate, and Trust Income Taxes

     A. Simplified employee pensions

    B. Savings incentive match plans

     C. Keogh plans

     D. Retirement distributions and loans

Assignments:

1. Reading of text and other written material

2. Homework involving problem solving and calculation skills

3. Group project including case research, written report, analysis, and optional presentation

4. Quizzes, exams, and final exam

Methods of Evaluation/Basis of Grade.

Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing.		Writing 10 - 30%
Group project case written report
Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills.		Problem Solving 10 - 25%
Homework involving problem solving and calculation skills; group project including case research and analysis
Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams.		Skill Demonstrations 0 - 0%
None
Exams: All forms of formal testing, other than skill performance exams.		Exams 30 - 60%
Quizzes, exams, and final exam
Other: Includes any assessment tools that do not logically fit into the above categories.		Other Category 5 - 15%
Participation; group project case presentation (optional)

Representative Textbooks and Materials:

Gleim Enrolled Agent Review Exam Prep Book- Part 2 Businesses. Gleim, Irvin and Hasselback, James. Gleim Publications. Current Edition.

Print PDF